Trader's Highlight

DJI-NEW YORK, June 15 (Reuters) - U.S. stocks tumbled on Wednesday, driven lower by escalating Greek debt woes, while troubling U.S. data pointed to further losses ahead.

Financials came under fire after Moody's Investors Service said it may cut the credit ratings of French banks, citing exposure to Greek debt. U.S. data showed the U.S. economy is facing a troubling mix of higher prices and weak growth.

The Dow Jones industrial average .DJI dropped 178.84 points, or 1.48 percent, to 11,897.27. The Standard & Poor's 500 Index .SPX lost 22.45 points, or 1.74 percent, to 1,265.42. The Nasdaq Composite Index .IXIC slid 47.26 points, or 1.76 percent, to 2,631.46.

NYMEX-NEW YORK, June 15 (Reuters) - U.S. crude futures fell more than 4 percent on Wednesday, posting its lowest settlement since Feb. 22 as weak economic data and the strong dollar weighed on oil prices.

Underlying U.S. inflation rose to its highest level in nearly three years in May, while a regional factory gauge for New York posted a surprise contraction this month, reports on Wednesday showed. [nN15281293]

The euro hit a 2-1/2-week low against the dollar, heading for its worst day in more than a month as investors fretted about the lack of resolution of Greece's debt crisis and the effect a default could have on European banks.

On the New York Mercantile Exchange, July crude CLN1 fell $4.56, or 4.59 percent, to settle at $94.81 a barrel, the lowest settlement since front-month crude closed at $93.57 on Feb. 22.

CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed firm on late short-covering following the drop of prices earlier in the trading session because of a soaring dollar.

The dollar was up about 1-1/2 percent when grain futures trading closed as governments in Europe tried to deal with the Greek debt problem. The dollar also was lifted as the U.S. Consumer Price Index for May rose the most in nearly three years.

FCPO-KUALA LUMPUR, June 15 (Reuters) - Malaysian palm oil futures rose half percent on Wednesday on robust export growth although traders bet expected stronger production of overall vegetable oil supplies in the coming months could still keep stocks growing and prices weak.

Traders said palm oil may fall to 3,000 ringgit per tonne by end-June as palm stocks are likely to go above a 16-month high hit in May and as the South American soy crop streams in.

The benchmark August crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange ended 15 ringgit higher to 3,268 ringgit ($1,078.370) a tonne. Overall traded volume was 20,420 lots of 25 tonnes each, lower than the usual 25,000 lots.

Exports of Malaysian palm oil products for June 1-15 rose 26 percent to 671,314 tonnes from 533,419 tonnes shipped during May 1-15, cargo surveyor Intertek Testing Services said on Wednesday.

REGIONAL EQUITIES-BANGKOK, June 15 (Reuters) - Some Southeast Asian stock markets climbed on Wednesday, with consumer sector shares extending gains as investors looked for defensive stocks against global volatility, while a rise in crude palm oil prices spurred buying in palm plantation shares.

In general, investors remained cautious about building up emerging stock market positions. Most markets reported light trading volume, with Indonesia seeing just 0.7times its 30-day average.

Bank of America Merrill Lynch was cautious on ASEAN, or Southeast Asian, equities over the next six months, saying economic growth was slowing and the end of U.S. quantitative easing could "normalise" or reverse liquidity flow into the region.

Singapore's benchmark Straits Times Index ended down 0.08 percent at 3,054.82 after a choppy session.

Technical signs pointed to a buying opportunity for Singapore, with the index testing a 3,040 support early this week, suggesting the bottom should come in the next four to six weeks, according to Najeeb Jarhom, head of research at broker AmFraser Securities in Singapore.

Palm plantation stocks rose as Malaysian palm oil futures edged up due to robust export growth. Among gainers, Singapore's Noble Group NOBG.SI rose 0.5 percent and Malaysia's IOI Corp IOIB.KL inched up 0.2 percent.